ASEAN economic ministers determined to form AEC by year-end
ASEAN economic ministers reaffirmed the determination to form the ASEAN Community, including the Economic Community at the end of this year as scheduled, during their 47th meeting in Kuala Lumpur.
The Vietnamese delegation at the 47th ASEAN Economic Ministers' Meeting. Photo: VNADespite challenges facing the association, including concerns on regional and global issues, the ministers still strongly committed not to reduce measures to realise the goals set for the formation of the community, Malaysian Minister of International Trade and Industry Mustapa Mohamed told the media after the first day of the meeting.
He said that at the meeting, the ministers discussed a series of remaining measures for the establishment of the AEC by year-end, and expressed delight that over 91 percent of the works towards the formation has completed.
The AEC will create a single market and common manufacturing venue, he said, adding that measures of liberating the AEC aim to ensure equal economic growth in the region and interest is enjoyed by all in a 620 million-strong region.
Non-tariff barrier is also a highlight at the meeting, said Mustapa Mohamed, adding that the ministers recognised the elimination of 95.99 percent of import taxes.
They also discussed the integration of the service sector and the implementation of mutual recognition agreement on the movement of skilled labourers in the region, while lauding the building of a draft AEC post-2015 vision and other strategic solutions.
The ministers also agreed that communications on the ASEAN Community and AEC should be expanded.
Speaking to Vietnam News Agency correspondents, Deputy Minister of Industry and Trade Nguyen Cam Tu said Vietnam has always been among leading countries in realising AEC building measures.
ASEAN economic ministers acknowledged that Vietnam has completed 94.5 percent of prioritised measures, second only to Singapore by 0.2 percent, he said.
Until the end of this year, Vietnam will focus on finalising measures in thee main areas of service, transport and infrastructure construction, said Tu. He held that Vietnam has well performed its tasks in the building of the AEC.-VNA
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